1098-T help

[Quiver0f10]

EDITED: I figured it out! The link on the help section was talking about W2's but my brain was thinking 1098-T. DOI.

[LizzyBee]

I am not familiar with Turbo Tax. But I am guessing that entering the amount from Box 5 is not causing the scholarship to be treated as taxable, but simply reducing the amount of tuition eligible for credits. For ex, if tuition is 10,000 and scholarships are 7,000, the net amount used for calculation of a credit or deduction will be 3,000. If any scholarships were not listed on the form, they would need to be entered separately in order for the credit/deduction calculation to be correct.

Clear as mud?

[Quiver0f10]

I am not familiar with Turbo Tax. But I am guessing that entering the amount from Box 5 is not causing the scholarship to be treated as taxable, but simply reducing the amount of tuition eligible for credits. For ex, if tuition is 10,000 and scholarships are 7,000, the net amount used for calculation of a credit or deduction will be 3,000.

Yes, exactly.

If any scholarships were not listed on the form, they would need to be entered separately in order for the credit/deduction calculation to be correct.


Thank you!